Net income inched up to €611,931,000 ($661.5 mm) from €606,697,000 on revenues that increased 15% to €2,984,217,000 ($3,226.2 mm) over €2,602,890,000 for FY ‘23, led by the Moncler brand which improved 17% to €2,573,159,000. Growth was slower at Stone Island, where sales increased 2% to €411,058,000. Gross margin expanded 70 b.p. to 77.1%, while SG&A increased 15% in Euros, deleveraging 20 b.p. to 40.2% of sales.

Moncler brand DTC sales grew 22% to €2,163.9 million, with store comps going +19%, but wholesale was down 5% to €409.2 million, impacted by the North ... Log in to view full article.